FxWirePro: USD/MXN downtrend slows, but bearish sentiment remains

• The USD/MXN initially dipped but regained some ground as investors awaited a week packed with global interest rate decisions.

•Central bank meetings this week, including the Fed, Bank of Japan, and Bank of England, are expected to result in no changes due to ongoing economic uncertainty.

• Recent concerns over the fluctuating U.S. trade policy have unsettled markets, causing the dollar to dip against most major developed market currencies.

•Earlier this month, Trump temporarily exempted goods from Canada and Mexico from his 25% tariffs under a North American trade agreement, with the exemption set to expire on April 2.

• At GMT 17:29, the pair was trading down 0.01% at 19.925

•  Immediate resistance is located at 19.996(38.2%fib), any close above will push the pair towards 20.115(50%fib).

• Support is seen at 19.848(Daily low) and break below could take the pair towards 19.756(23.6%fib).

Recommendation: Good to sell around 20.000, with stop loss of 20.200 and target price of 19.000